(Reuters) -Coca-Cola is considering taking its Indian bottling unit public in a deal that may fetch $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. The company has met with bankers to discuss listing Hindustan Coca-Cola Beverages, the report said, adding that it would value the unit at $10 billion. Coca-Cola […]
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Coca-Cola considers $1 billion IPO of Indian bottling unit, Bloomberg News reports
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(Reuters) -Coca-Cola is considering taking its Indian bottling unit public in a deal that may fetch $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter.
The company has met with bankers to discuss listing Hindustan Coca-Cola Beverages, the report said, adding that it would value the unit at $10 billion.
Coca-Cola did not immediately respond to a Reuters request for comment outside regular U.S. business hours. Hindustan Coca-Cola Beverages could not be reached for comment.
The beverage giant has been facing competition from Reliance’s consumer products brand Campa Cola.
India is seeing a flurry of global companies seeking to list their subsidiaries. Consumer appliance maker LG Electronics India eclipsed its South Korean parent in a blockbuster $13 billion trading debut this week.
Talks of a potential listing are in early stages and the company hasn’t hired bankers yet, Bloomberg News reported, adding that the deal would probably occur next year if it goes ahead.
(Reporting by Ananya Palyekar and Urvi Dugar in Bengaluru; Editing by Mrigank Dhaniwala and Harikrishnan Nair)